Michael McNamara News
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U.S. holiday sales growth slowed by more than half this year after gridlock in Washington soured consumers’ moods and Hurricane Sandy disrupted shopping, MasterCard Advisors SpendingPulse said.
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Holiday shoppers descended on U.S. malls this weekend in a last-minute dash to buy gifts amid concerns about the nation’s economy and the impasse in Washington over taxes and spending.
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Holiday shoppers descended on U.S. malls this weekend in a last-minute dash to buy gifts amid concerns about the nation’s economy and the impasse in Washington over taxes and spending.
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In Christmases past, gentlemen headed to their trusty local jewelry shop to buy generic gems for their significant others -- strands of pearls, diamond-stud earrings.
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Hurricane Sandy reduced U.S. retail sales in the northeast by about $4 billion last week, according to MasterCard Advisors SpendingPulse.
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Spending on luxury goods in the U.S. has slowed since the end of the year, with jewelry putting in a worse performance, MasterCard Advisors SpendingPulse said.
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U.S. online sales jumped 15 percent this holiday season, spurred by “aggressive” marketing by Web- based retailers, a research firm said.
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Apple Inc., advised by Weil Gotshal & Manges LLP, agreed to buy AuthenTec Inc. for about $350 million, deploying some of its $117.2 billion cash hoard to gain fingerprint-authentication and encryption security technology for the iPad and iPhone. Alston & Bird LLP represented AuthenTec.
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U.S. retailers’ 2010 holiday sales jumped 5.5 percent for the best performance in five years as shoppers snapped up clothing and jewelry at Macy’s Inc. , Tiffany & Co. and other stores.
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When Cessna Aircraft Co. sought a low-wage country in 2006 where it could manufacture airplane parts, its first instinct was to go to China .
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